Finding Text
Criteria
The Authority is required to maintain an accurate schedule of expenditures of federal, state
and city awards.
Condition
The Authority did not maintain an accurate schedule of expenditures of federal, state and
city awards.
Cause
The Finance Department staffing composition at the Authority has gone through significant
changes as a result of retirement(s) and/or senior staff leaving. Poor succession planning
and transition of responsibilities have resulted in inaccurate information being reported on
the schedule of expenditures of federal, state and city awards as no one individual has
taken ownership or responsibility over its preparation.
Effect
The schedule of expenditures of federal, state and city awards was not completed
accurately, which required various adjustments. Recommendation
We recommend that the Authority implement procedures to ensure there is an adequate
review process in place to ensure grants are coded properly within the accounting system
which will lead to accurate completion of the schedule of expenditures of federal, state and
city awards.